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Help to Buy Mortgage Advice in Sunderland

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Help to Buy Mortgage Advice in Sunderland Across All Schemes

The Help to Buy scheme is a very attractive one but can be incredibly complex. When we work with you, we use our experience to help and try to make sure that there are no unpleasant surprises and that it is not at all intimidating.

 

We will assist you during the whole process, ensuring that you know what is going to happen and when. Always at the end of the phone when you need us, if you need advice or a deeper understanding of the Help to Buy scheme, we are here to support you.

 

Having Sunderlandmoneyman.com working on your behalf is incredibly beneficial when you need a Mortgage Broker in Sunderland to support you.

How does the Help to Buy Equity Loan Scheme work?

This is a scheme that has been set up to help not only first-time buyers but homeowners too. Here are a few key facts about the scheme:

 

You will require a minimum of 5% deposit

Up to 20% of the property’s value will be treated as an equity loan from the Government

The balance will be covered by a special Help to Buy mortgage.

How do you qualify for the Help to Buy scheme?

We will advise you as to whether or not you can qualify for this scheme.  It’s all part of our tailor-made service.  Help to Buy Equity loans apply to new-build properties up to a maximum value of £600k. This scheme is designed only for First Time Buyers in Sunderland.

 

Part of the terms and conditions specify that you should not own any other property i.e. you cannot buy a second home with the help of this scheme.  Part-exchange and sub-letting is also not allowed.

 

Help to Buy Shared Ownership

Help to Buy Shared Ownership scheme, you can buy as little as 25% or as much as 75% of a home and pay rent on the rest.  If you can’t quite afford the mortgage on 100% of a home, Help to Buy: Shared Ownership offers you the chance to buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share. Later on, you could buy bigger shares when you can afford to.

 

As your expert Mortgage Broker in Sunderland, we are able to provide Help to Buy Mortgage Advice across all schemes. Find out more information about Help to Buy schemes available to you and the most common Help to Buy mortgage scenarios below.

 

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Your Mortgage Broker in Sunderland is here to provide you with expert Help to Buy Mortgage Advice.

We will always recommend the best option for your individual circumstances and make sure that you feel happy and secure through the whole Help to Buy process.

 

Here are some of the most common Help to Buy mortgage situations that we come across:

  • This makes it possible to buy a home with just a 5% deposit whilst Help to Buy Shared Ownership deposits are typically much lower than buying traditionally.
  • With a Help to Buy: Equity Loan, the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest.

 

Get in touch with a Mortgage Advisor in Sunderland and receive a free mortgage consultation.

 

Find out more information about the Help to Buy schemes available to you at Gov.uk

Why should you choose us as your Mortgage Broker in Sunderland?

As a Mortgage Broker in Sunderland, we assist clients with all types of mortgages, including those under the Help to Buy scheme. Once you make contact with us, we will walk you through the whole process, from start to finish.

 

If you have already found a new home that you want to buy that falls within the remit of the Help to Buy scheme, we will go through the paperwork with you and even liaise with the home builder or estate agent on your behalf.

 

Not only will we deal with your mortgage but we can also help if you need advice with regard to surveyors or solicitors.

 

As part of your initial free mortgage consultation, we will go through all of the figures with you so that you know exactly how much you will be paying each month.

 

Check out our Reviews and see why so many people choose us when looking for a buy to let mortgage.

 

As your Mortgage Advisor in Sunderland, we are here to help you. Get in touch with us today and make a date for your free mortgage consultation.

What our customers say

Common mortgage
questions

For a Help to Buy, you will need to have at least 5% of the sale price of your new build property in Sunderland. The Government will then loan you an additional amount up to 20% of the properties value.

Your free initial mortgage consultation with a mortgage advisor in Sunderland will last round about one hour. They will then recommend a mortgage for you, wherein you have no obligation to proceed and you can decide whether or not that particular deal is something you’d like to go forward with.

As a trusted and well experienced mortgage broker in Sunderland, we will first carry out a Fact Find to establish your personal needs, before we begin searching and recommending the most suitable mortgage for you. A credit check will be required for an Agreement in Principle. A formal mortgage offer can be issued once you have provided all the relevant documentation and a valuation of the property has been undertaken.

To avoid any kind of disappointment with a property, we recommend you obtain an Agreement in Principle before you begin property viewings in Sunderland. We would say that at the very latest, you should obtain one before you start to make offers, in order to assist your bargaining position.

A standard Agreement in Principle typically lasts for around 30 to 90 days depending on the Lender. If your Agreement in Principle expires, you can get it easily refreshed.

You may have the option of getting a second mortgage on your home for things like debt consolidation or Home Improvements. This can also be possible if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let.

If you have had credit problems previously in life, you may still have a chance at obtaining a mortgage, but you may be required to put down a higher deposit than usual. This could be be 15% of the property purchase price.

Once you have submitted at least one year’s accounts to the lender, you may be eligible for a mortgage. Most Lenders will calculate the maximum mortgage with salary plus dividend, whereas others sometimes go off your net profit.

A lender will usually need three payslips for an employee to prove income and the latest 2 years’ accounts for an applicant who is self-employed. You will also need to provide them with proof of ID, address and 3 months’ bank statements.

Your free consultation with a mortgage advisor in Sunderland will typically lasts up to an hour or so. We have the ability to turn round an agreement in principle within 24 hours. A formal mortgage offer has been known to take roughly about three weeks on average.

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We make it so easy!
Our 4 step process

Step 1

Give us a call and a Mortgage Advisor in Sunderland will recommend the best Help to Buy scheme based on personal circumstances.

Step 2

Enjoy finding your dream home in Sunderland

Step 3

Make an offer on the property and once accepted, we will progress your mortgage application.

Step 4

We will be here to answer all of your mortgage questions right through till you get your keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

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